24 May 2016

BULIONS & ENERGY LEVELS FOR 24 MAY 2016


Yesterdays our Crude oil buy call booked around 3270 given buy at 3215-3220.

Bullions: Gold futures settled lower Monday for a fourth session in a row, as the expectation that the Fed could raise interest rates as soon as next month drove precious-metals prices to their lowest levels since late April.
Higher interest rates would presumably lift dollar demand, dampening buyer interest in dollar-priced precious metals. Rate hikes can also weigh on gold as the precious metal doesn’t pay interest. That tends to push investors toward higher-yielding alternatives when rates are on the rise.

COMMODITY
S2
S1
R1
R2
TREND
RANGE
Gold
29350
29500
29800
29950
SIDEWAYS
29300-29900
 
Silver
39000
39300
40000
40300
 
SIDEWAYS
39000-39500

Energy: Oil futures trade sideways in morning session with buying from lower level pull the prices to intraday high .Next week ahead, oil traders will be focusing on U.S. stockpile data on Tuesday and Wednesday for fresh supply-and-demand signals.

COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3130
3190
3310
3360
BULLISH
3180-3290

 

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